Walmart Heirs Have As Much Wealth As Bottom 40 Percent Of Americans Combined

Last year, Sylvia Allegretto, a labor economist at the Center on Wage and Employment Dynamics, found that as of 2007, the Walton family — heirs to the Walmart fortune — had a net worth equal to that of the bottom 30 percent of Americans. And due to the effects of the Great Recession that ratio has gotten substantially worse.

New Federal Reserve data analyzed by both Allegretto and Josn Bivens at the Economic Policy Institute shows that the Waltons now hold as much wealth as the bottom 40 percent of Americans combined